406 Midwood Street Condominium (The Art Deco)
406 Midwood Street, Brooklyn, NY 11225
Overview
The Art Deco is a 10-unit condo in Brooklyn.
- Offering plan: Accepted April 2023 · 363 pages · floor plans on page 13
- Finishes: 9-foot ceilings, hardwood floors, marble kitchen countertops, wood laminate cabinets, JennAir, Samsung and Bosch appliances, washer/dryer hook-ups and split-system units for heating and cooling
- Prices: $8.23 million in all
- Common charges: $305–$603 a month, the sponsor's first-year estimate
- Sponsor: Hlpg 406 Midwood LLC, represented by The Law Office Of Jay Lichtman, PC; principals Yaakov Scharman and Barel Shor
- Neighborhood: East Flatbush, Brooklyn
- Subway: 8-minute walk to Winthrop St (2, 5); 8 minutes to Sterling St (2, 5)
- Amendments: 2, the latest in May 2024
- Units
- 10 residential
- Neighborhood
- East Flatbush, Brooklyn
- Subway
- 8 min walk to Winthrop St 2 5Sterling St 2 5, 8 min
- Principals
- Yaakov Scharman, Barel Shor
- Common charges
- $305–$603 a monthSponsor's first-year estimate in Schedule A, July 1, 2023- June 30, 2024
- Offering price
- $8.23 million total
- Floor plans
- Page 13 of the plan
- SubmittedJanuary 2024
- AcceptedApril 2023
- 2 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Jul 31, 2026.
First-Year Budget
From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)
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Property Taxes
The plan's first-year tax estimate, checked against the city's real bills for 6 homes.
Each home's estimate, city bills and tax breaksSee it free →Closing Costs
The plan lists what a buyer pays at closing.
All 7 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 2 May 17, 2024
This Second Amendment updates the offering price for Unit 4A and declares the plan effective.
- Unit 4A offering price changed to $580,000
- Plan declared effective as of May 17, 2024
- Two units (20% of residential units) have executed purchase agreements
- Plan term extended for six months from the amendment date
Amendment 1 Jan 3, 2024
Offering prices for all 10 units are updated, and the plan term is extended by six months.
- Unit 1A price: $1,075,000
- Unit 1B price: $1,110,000
- Unit 2A price: $895,000
- Unit 2B price: $895,000
- Unit 3A price: $599,000
- Unit 3B price: $635,000
- Unit 3C price: $615,000
- Unit 4A price: $575,000
Team
- Sponsor
- Hlpg 406 Midwood LLC
- Principals
- Yaakov Scharman, Barel Shor
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Quanta Finance$4.05 million recorded
- General contractors
- Sat Construction Services, PaintlyHeld the general construction permit on DOB NOW job B00519039
- Buyer's lender
- U.S. BankThe sponsor's preferred mortgage lender; you can use another, though the mortgage contingency is offered through the sponsor's lender · Named on p. 223
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning district
- R6
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 401 Rutland Road Condominiumnext door · 22 units · 11 parking · 2020
- Calvert Housenext door · 49 units · 2025
- 373 Rutland Road Condominiumnext door · 9 units · 2026
- Calvert Villasnext door · 10 units · 2024
- 421 Maple Street Condominiumnext door · 10 units · 2021
- 460 East New York Avenue Condominium0.1 mi · 8 units · 2021
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